Laid off GM employees are being offered free financial advice

DETROIT (FOX 2) - It might be the end of their tenure at General Motors, but there are bright spots besides severance on the horizon for laid off employees.

"Regardless of whether you're a blue collar or white collar worker, everyone needs a plan," said Josh Levine of Telemus.

That plan refers to the preparations for former employees' financial futures. Telemus is offering to provide advice on what to do with retirement packages and personal assets at no cost.

"We take all of the accounts you have, whether they are your personal assets, your retirement accounts and we talk about your living expenses," Levine said. "...and what are your needs for the future. We take a look at all of that and we plan it all the way through retirement into end of life."

There's an array of options available to consider too. You can leave assets where they are and invest them. You can take that money out, but make sure you're not penalized for it. Or, you can roll that money into an IRA or another plan.

You can learn more at Telemus.com/GM